Thailand’s E-commerce Market Will be Worth US$18.9 Billion in 2024
Jayson 28 Apr 2024 12:21
According to news on April 24, Thailand's Ministry of Business Development recently released analytical data for some e-commerce businesses in the first quarter of this year. Data shows that e-commerce is expected to continue to grow, driven by Thais purchasing products in large quantities through e-commerce platforms, with the market value reaching 700 billion baht (approximately US$18.9 billion) by 2024.
It is reported that from specific data, the current proportion of Thais purchasing products and services through e-commerce platforms is 67%, which is consistent with the trend of the number of new e-commerce company registrations that has continued to increase over the past six years.
In the past 6 years (2018-2023), the number of e-commerce company registrations has increased significantly. In 2018, there were 310 e-commerce companies in Thailand with a registered capital of 545 million baht; by 2023, this number will be 1,713 and 2.27 billion baht respectively. It is expected that the number of registered e-commerce companies will reach 7,393 this year, with a registered capital of 43.7 billion baht.
Among these e-commerce enterprises, small enterprises accounted for the largest proportion, 98.46% (7279), with a registered capital of 30.88%; medium-sized enterprises accounted for 1.16% (86), with a capital of 4.29%; large enterprises accounted for the smallest proportion , only 0.38% (28 companies), but the capital is the largest, reaching 64.83%.
It is reported that from specific data, the current proportion of Thais purchasing products and services through e-commerce platforms is 67%, which is consistent with the trend of the number of new e-commerce company registrations that has continued to increase over the past six years.
In the past 6 years (2018-2023), the number of e-commerce company registrations has increased significantly. In 2018, there were 310 e-commerce companies in Thailand with a registered capital of 545 million baht; by 2023, this number will be 1,713 and 2.27 billion baht respectively. It is expected that the number of registered e-commerce companies will reach 7,393 this year, with a registered capital of 43.7 billion baht.
Among these e-commerce enterprises, small enterprises accounted for the largest proportion, 98.46% (7279), with a registered capital of 30.88%; medium-sized enterprises accounted for 1.16% (86), with a capital of 4.29%; large enterprises accounted for the smallest proportion , only 0.38% (28 companies), but the capital is the largest, reaching 64.83%.
